Australia's Megaport loses most in near 9 months on weaker-than-expected 1Q

Megaport

26/10/2023 03:42

** Shares of Australia's Megaport  MP1.AX  fall as much as
22.2% to A$8.95, their worst intraday pct loss since Jan 31
    ** The tech major delivered a quarterly EBITDA of A$15 mln
($9.41 mln) and revenue of A$46.5 mln
    ** Analysts at Citi say the update was weaker than expected 
    ** Customer port net adds of 135 in 1Q24 was down from 147
in 4Q23
    ** Stock hits lowest since July 11
    ** Megaport stock up 82.4% this year, as of last close 

   ($1 = 1.5941 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))